MoonPay has acquired Iron, an API-driven stablecoin infrastructure startup, in a transfer to boost its enterprise fee options.
This marks MoonPay’s second main acquisition in two months, reinforcing its ambition to steer the rising stablecoin funds sector.
With Iron’s know-how, MoonPay goals to supply companies instantaneous, low-cost, and borderless stablecoin transactions. The deal mirrors PayPal’s acquisition of Braintree, which helped set up its dominance in bank card processing.
“That is our Braintree second,” MoonPay CEO Ivan Soto-Wright instructed CNBC.
The stablecoin market noticed $27 trillion in transactions in 2024, with companies more and more adopting blockchain-based funds.
MoonPay’s enlargement comes amid competitors from Stripe, which just lately acquired Bridge Community in a $1.1 billion deal. MoonPay, valued at $3.4 billion, reported a 112% enhance in web income in 2024.
Final October, Venmo partnered with MoonPay, enabling its 60 million U.S. customers to purchase crypto utilizing their Venmo balances.
CNBC reporting helped with this text.
